Welcome to our dedicated page for Target Corporation news (Ticker: TGT), a resource for investors and traders seeking the latest updates and insights on Target Corporation stock.
Target Corporation (NYSE: TGT), headquartered in Minneapolis, operates nearly 2,000 stores across the United States and serves millions of customers both in-store and online at Target.com. As the sixth-largest retailer in the United States, Target is known for offering a wide selection of apparel, home goods, electronics, and household essentials at competitive prices, aiming to provide a premium shopping experience.
Founded in 1946, Target has maintained a strong commitment to community support by donating 5% of its profits, amounting to millions of dollars each week. With a clear focus on delivering value and quality, Target has built a portfolio of owned brands that generate over $30 billion in annual sales, catering to various customer needs.
Recent initiatives include the introduction of dealworthy, a new low-price brand offering nearly 400 items, and the relaunch of the Target Circle loyalty program, designed to provide enhanced savings and personalized shopping experiences. In addition, Target has announced a collaboration with Diane von Furstenberg, featuring exclusive designs in fashion and home decor.
Financially, Target has shown resilience and strategic growth. For the fourth quarter of 2023, the company reported GAAP and adjusted earnings per share (EPS) of $2.98, significantly higher than the previous year's $1.89 per share. Full-year EPS also saw an increase, with GAAP EPS at $8.94 compared to $5.98 in 2022. Despite a 4.4% decline in comparable sales in the fourth quarter, Target's total revenue grew to $31.9 billion, a 1.7% increase from the previous year.
Target continues to invest in its future, focusing on enhancing store experiences, expanding its digital presence, and building a more efficient supply chain. With strategic investments, including the recent reintroduction of the Target Circle membership program, Target aims to foster deeper connections with its customers and sustain long-term growth.
Stay updated with the latest news and developments from Target Corporation by visiting their corporate website and press center.
Target Corporation (NYSE: TGT) has teamed up with the LEGO Group to launch a limited-edition lifestyle collection, featuring nearly 300 items priced between $1.50 and $120. The collection includes home goods, apparel, toys, and accessories, designed to promote family engagement and inclusivity. Available in early December, it reflects both brands' commitment to self-expression and celebration during the holiday season. Target aims to differentiate itself in the competitive market by providing a unique shopping experience for families, enhancing holiday traditions.
Target Corporation (NYSE: TGT) has announced the return of Target Deal Days from October 10 to October 12, offering deep discounts across several categories, including electronics and home goods. This year, deals will be available online, via the Target App, and at over 1,900 stores. Additionally, Target introduces an industry-leading Holiday Price Match Guarantee, allowing price adjustments on purchases made during the event until December 24. The retailer aims to enhance the shopping experience through convenience and inspiration, asserting its commitment to delivering value throughout the holiday season.
Bio Bidet by Bemis has partnered with Target Corporation (TGT) to distribute its bidet products nationwide in Target stores. The collaboration aims to meet the growing consumer demand for hygiene products, featuring items like non-electric bidet attachments, handheld sprayers, and travel bidets in the home improvement section. This partnership marks a significant entry into mainstream retail for Bio Bidet, which positions itself as a leader in innovative bathroom solutions.
Target Corporation (NYSE: TGT) announced plans to invest over $75 million in additional pay by providing five million more hours to current team members this holiday season. This initiative includes a new mobile scheduling app for flexible shifts. Target emphasizes preferred schedules, with hourly team members working nearly 15% more hours than last year. Additionally, Target aims to hire 100,000 seasonal team members while enhancing training and development opportunities for existing employees. Investments in pay, benefits, and career growth remain a fundamental focus.
The board of directors of Target Corporation (NYSE:TGT) announced a quarterly dividend of 90 cents per share, payable on December 10, 2021, to shareholders on record by November 17, 2021. This marks the company's 217th consecutive dividend since it became publicly held in October 1967. Target operates over 1,900 stores and has a commitment to contributing 5% of its profit to communities.
Target Corporation (NYSE: TGT) has appointed Sarah Travis as president of Roundel, its in-house media company, starting Sept. 13. Travis brings extensive media expertise from her previous role as managing director of retail at Google. Under her leadership, Roundel aims to enhance marketing connections with Target's guests through innovative strategies. The company has invested in Roundel's capabilities, and it has consistently exceeded revenue targets since its relaunch in 2019, marking it as a growing and profitable segment of Target's business.
Target Corporation (NYSE: TGT) announces the return of Bullseye's Top Toys list for the holiday season and plans to expand to over 160 Disney store locations nationwide. The exclusive 70-piece toy collection with FAO Schwarz features 85% new items. The toy offerings include popular brands like LEGO and L.O.L. Surprise!, alongside items like the Healthy Roots Zoe Doll. Target aims to enhance the shopping experience with same-day pickup and delivery options, while providing discounts for RedCard holders.
Target Corporation reported second quarter 2021 results showing comparable sales growth of 8.9%, following last year's record growth of 24.3%. GAAP EPS reached $3.65, up 8.9% year-over-year. Digital sales increased by 10%, with same-day services surging nearly 55%. Total revenue grew to $25.2 billion, a 9.5% rise. Target's Board approved a new $15 billion share repurchase program. For the second half of 2021, comparable sales growth is expected to be high single digits, with an operating income margin forecast of 8% or higher.
Target Corporation (NYSE: TGT) announced a webcast for its second quarter earnings conference call scheduled for August 18, 2021, at 7:00 a.m. central time. Investors and media can access the call on Target's investor relations website. The company operates more than 1,900 stores and a robust online platform aimed at enhancing everyday life for families since 1946. Target has a strong commitment to community support, contributing 5% of its profit to community initiatives, equating to millions weekly.
Target Corporation (NYSE: TGT) announced the appointment of David P. Abney and Gail K. Boudreaux to its board of directors. Abney, former CEO of UPS, brings over 40 years of experience in logistics and corporate leadership, while Boudreaux, CEO of Anthem, has extensive expertise in healthcare management. Abney's appointment is effective immediately, and Boudreaux's will take effect on September 23, 2021. This strategic move aims to enhance Target's board with experienced professionals who have led complex corporate strategies in rapidly changing environments.
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